Oil Futures Little Changed After Overnight Rebound

By Biman Mukherji Features Dow Jones Newswires

Oil futures were little changed in Asian trading, maintaining overnight gains caused by relief buying following in-line weekly data from the U.S.

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--On the New York Mercantile Exchange, light sweet crude futures for delivery in October was recently down 3 cents at $48.36 a barrel in the Globex electronic session. October Brent on London's ICE Futures was up 2 cents at $52.59.

--Range-bound trading is seen continuing as U.S. oil production continues to rise, limiting the impact of declining inventories there, while the ongoing production caps led by the Organization of the Petroleum Exporting Countries start to be felt, said Gnanasekar Thiagarajan of Commtrendz Risk Management.

Write to Biman Mukherji at biman.mukherji@dowjones.com

(END) Dow Jones Newswires

August 24, 2017 00:23 ET (04:23 GMT)